Source - LSE Regulatory
RNS Number : 5638V
Vaalco Energy Inc
15 April 2021
 

15 April 2021

PDMR Share Dealing

VAALCO Energy, Inc. ("VAALCO" or "Company") announces the exercise of Stock Appreciation Rights ("SARs") on 9 April 2021 by Cary Bounds, a person discharging managerial responsibility in the Company, in the number set out below, which was satisfied for the amount of cash set out below (such amount being net of the grant price and taxes).

 

Name

Role at time of exercise

Nature of transaction

Number of SARs

Aggregate net cash to satisfy exercise of SARs ($)

Cary Bounds

CEO

Exercise of SARs

1,358,549

 

1,060,743.50

 

Option awards in the Company were vested and exercised by Cary Bounds on 9 April 2021, a person discharging managerial responsibility in the Company, as listed below.

Name

Role at time of exercise

Nature of transaction

Number of shares over which options exercised

Exercise price per share ($)

Number of shares received after withholding of shares to cover taxes and costs


Cary Bounds

CEO

Exercise of options

375,039

 

2.25

118,278

 

 

This exercise of options triggered immediate tax liabilities and other costs that were satisfied by the disposal of the number of Common Shares listed below.

Name

Role at time of exercise

Nature of transaction

Number of Common Shares

Disposal Price per share ($)

Cary Bounds

CEO

Disposal of Common Shares

256,761

2.25

 

 

 

About VAALCO

 

VAALCO, founded in 1985, is a Houston, USA based, independent energy company with production, development and exploration assets in the West African region.

The Company is an established operator within the region, holding a 63.6% participating interest in the Etame Marin Block, located offshore Gabon, which to date has produced over 120 million barrels of crude oil and of which the Company is the operator.

For Further Information

VAALCO Energy, Inc. (General and Investor Enquiries)

+00 1 713 623 0801

 

 

Website:

www.vaalco.com



Al Petrie Advisors (US Investor Relations)

+00 1 713 543 3422

Al Petrie / Chris Delange


Buchanan (UK Financial PR)

 

+44 (0) 207 466 5000

Ben Romney / Kelsey Traynor James Husband

VAALCO@buchanan.uk.com

 

 

Notification of dealings in shares by PDMR's of the Company:

1.

Details of PDMR / PDMR Associate

(a) 

Name

Cary Bounds

(b) 

Position / status

Chief Executive Officer (at time of exercise)

(c)  

Initial notification /

amendment

2.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

(a) 

Description of the financial instrument

Stock Appreciation Rights ("SARs") and Options over Common Shares ("Options")

(b) 

Nature of the transaction

Exercise of SARs and Options

(c)  

Price(s) and volume(s)

Exercise of SARs (before taxes and other costs):

Price: US $2.25

Volume: 1,358,549

Total: US $3,056,735.25

 

   Exercise of Options (before taxes and other costs):

Price: US $2.25

Volume: 375,039 

Total: US $843,838

 

(d) 

Aggregated information

Aggregated volume

Price

Volume: 1,733,588

Price: $2.25

 

(e) 

Date of the transaction

9 April 2021

(f)  

Place of the transaction

USA

 

 

 

1.

Details of PDMR / PDMR Associate

(a) 

Name

Cary Bounds

(b) 

Position / status

Chief Executive Officer & Chief Operating Officer

(c)  

Initial notification /

amendment

Initial Notification

2.

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

(a) 

Description of the financial instrument

Common Shares to satisfy tax withholding obligations and other costs upon exercise of stock options

(b) 

Nature of the transaction

Disposal of Common Shares to satisfy tax withholding obligations  and other costs upon exercise of Options

(c)  

Price(s) and volume(s)

Price: US $2.25

Volume: 256,761

Total: US $577,712.25

(d) 

Aggregated information

Aggregated volume

Price

 

n/a

(e) 

Date of the transaction

9 April 2021

(f)  

Place of the transaction

USA

 

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